Monday May 28, 2018
Home Lead Story Warren Sugges...

Warren Suggests Apple to Buy More Shares

At the end of the first quarter of 2018, Berkshire owned $40.7 billion of Apple's shares -- up from $28.2 billion at the end of 2017, The New York Times reported.

0
//
19
It is a better idea than spending that money on other companies which have the disadvantage of not being Apple, he added.
Warren Buffett, US billionaire and investor, wikimedia commons
Republish
Reprint

A day after multinational conglomerate Berkshire Hathaway acquired another 75 million shares of Apple, its CEO Warren Buffett said the iPhone maker should spend more cash buying its own shares.

“They are not going to find $50 billion or $100 billion acquisitions that they can make at remotely a sensible price,” ReCode quoted Buffett as saying at the company’s annual meeting held at Omaha city in the US state of Nebraska.

It is a better idea than spending that money on other companies which have the disadvantage of not being Apple, he added.

Apple posted a healthy revenue of $61.1 billion and net quarterly profit of $13.8 billion globally for its second quarter for fiscal 2018, defying global reports of a weakened demand for its iPhones.

A day after multinational conglomerate Berkshire Hathaway acquired another 75 million shares of Apple, its CEO Warren Buffett said the iPhone maker should spend more cash buying its own shares.
Apple Mobile, Wikimedia commons

Following this, Berkshire Hathaway acquired more shares and now owns a large slug of Apple stock and has 5 per cent stake in the company.

At the end of the first quarter of 2018, Berkshire owned $40.7 billion of Apple’s shares — up from $28.2 billion at the end of 2017, The New York Times reported.

He also said he likes Apple’s plan to spend $100 billion buying its own shares.

“I’m delighted to see them repurchasing shares. We own 5 per cent of it. With the passage of time, we may own 6 or 7 per cent because they repurchase shares,” he was quoted as saying.

Also Read: Less Brain Tissue not Behind Reading Disorder

On having never invested in Microsoft, Buffett said that “in the earlier years, the answer is stupidity”. He stayed away from investing “because of the inference” that could be drawn.

On e-commerce firm Amazon, he said: “The truth is that I’ve watched Amazon from the start and I think what (Amazon CEO) Jeff Bezos has done is something close to a miracle. The problem is if I think something will be a miracle, I tend not to bet on it.”

Buffett said he had “made a mistake” on conglomerate Alphabet. He said he was unable to conclude that at Alphabet’s present prices, its “prospects were far better than the prices indicated”. (IANS)

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

Governments Across The World Request Apple for 30,000 Device Information

The governments and private parties around the world also requested information on 3,358 Apple accounts and data was provided in 82 per cent of cases.

0
//
24
apple
Private party request circumstances generally relate to instances where private litigants are involved in either civil or criminal proceedings.

The governments around the world sent requests for device information on 29,718 Apple devices, with India asking for 27 device requests in the July-December 2017 period, the iPhone maker has revealed.

Overall, the data was provided in 79 per cent of cases, Apple said in its bi-annual transparency report made available on Friday.

In case of India, the data was provided in 14 out of 27 requests (52 per cent).

The governments and private parties around the world also requested information on 3,358 Apple accounts and data was provided in 82 per cent of cases.

“Examples of such requests are where law enforcement agencies are working on behalf of customers who have requested assistance locating lost or stolen devices.

apple
In case of India, the data was provided in 14 out of 27 requests (52 per cent). Pixabay

“Additionally, Apple regularly receives multi-device requests related to fraud investigations. Device-based requests generally seek details of customers associated with devices or device connections to Apple services,” the Cupertino-based company said.

Private party request circumstances generally relate to instances where private litigants are involved in either civil or criminal proceedings.

The tech giant said that starting with the period July 1-December 31, 2018, it will “report on government requests to take down Apps from the App Store in instances related to alleged violations of legal and/or policy provisions”.

Read More: Home Router Devices Were Compromised By Foreign Hackers Says FBI 

Apple requires government and private entities to follow applicable laws and statutes when requesting customer information and data.

“We contractually require our service providers to abide by the same standard for any government information requests for Apple data. Our legal team reviews requests received to ensure that the requests have a valid legal basis,a the company said.

“When we receive an account request seeking our customers’ personal information, we notify the customer that we have received a request concerning their personal data except where we are explicitly prohibited by the legal process, by a court order Apple receives, or by applicable law,” it added. (IANS)